Telenor chairman quits over TV2 deal

OSLO (Reuters) - Telenor chairman Harald Norvik quit on Wednesday after the government, which owns 54 percent of the Norwegian group, withdrew support for him over the sale of TV2, the country's top commercial channel. The resignation capped months of controversy since a company jointly owned by Telenor and labor unions sold its 50 percent stake in TV2 to Egmont for 2.1 billion Norwegian crowns ($367 million) in January, giving the Danish firm 100 percent control. "The Minister of Trade and Industry, Mr. ...

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OSLO (Reuters) - Telenor chairman Harald Norvik quit on Wednesday after the government, which owns 54 percent of the Norwegian group, withdrew support for him over the sale of TV2, the country's top commercial channel.

OSLO/LONDON (Reuters) - Bayer (BAYN.DE) has offered to pay $2.4 billion for Norway's Algeta (ALGETA.OL), its partner for a new prostrate cancer treatment, at a 27 percent premium to the stock's last close, Algeta said on Tuesday. The deal would boost Bayer's drugs division by giving it outright control over Xofigo, a drug the two have developed jointly since 2009 and started selling in the United States this year. Investors, however, bet that the German drugs and chemicals group has a fight on its hands and Algeta's Chief Financial Officer said that rival bids could not be ruled out.

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NEW DELHI: Telenor wrapped up its ill-starred India venture by agreeing to sell the business to market leader Bharti Airtel, which will take on some of the Norwegian telecom giant’s local liabilities in return. The acquisition, which comes amid market consolidation, will boost Bharti’s 4G airwaves and revenue market share, strengthening its hand in the battle against Reliance Jio Infocomm. The move marks the end of Telenor’s bid to gain a share of the world’s biggest telecom market after China.

NEW DELHI: Telenor has decided against participating in the upcoming spectrum sale in India, signalling the Norwegian mobile phone operator's clear intent of exiting a market where it has been making losses and has struggled to expand operations.

MUMBAI: Vodafone has emerged as the frontrunner for buying out Telenor's operations in India, said two people with knowledge of the matter, as the country's No. 2 telecom company prepares for the coming battle over data customers with rivals Bharti Airtel and Reliance Jio Infocomm. It's not clear whether the deal will be restricted to the spectrum or include the company as well — the two people cited above differed on this.

ReutersJERUSALEM (Reuters) - Israel's Defence Minister Moshe Yaalon announced his resignation on Friday, citing poor faith in Prime Minister Benjamin Netanyahu after Netanyahu proposed replacing him as part of a move to expand the coalition government.

Submitted by Richrd Ebeling via Epic Times blog, Japanese Prime Minister Shinzo Abe spoke before a joint session of the U.S. Congress on April 29, 2015 and offered his “eternal condolences to the souls of all American people that were lost during World War II,” but never directly said that he was sorry for Imperial Japan’s sneak attack on Pearl Harbor on December 7, 1941.

Shares of Western Potash Corp fell as much as 12 percent on Monday after the Canadian mining company sold a nearly one-fifth stake to a joint venture of two Chinese companies, requiring a new issue of shares.
Western said on Sunday that it had sold 45 million newly issued shares – representing a 19.9 percent stake in the company – to CBC Holding Corp, jointly owned by China BlueChemical Ltd and Benewood Holdings Corp Ltd, for C$31.98 million ($31.05 million), or 71 Canadian cents per share.